TAX ATTORNEY HANDLING UNFILED TAX RETURNS IN REGARD TO PARTIES GETTING DIVORCED, AVAILABLE TO REPRESENT CLIENTS FROM CARTHAGE, HANCOCK COUNTY, ILLINOIS, DIVORCE LAW FIRM
In regard to divorcing parties, if individual income tax
returns have not yet been filed, decisions need to be made in regard to the status of filing, including whether filing as joint tenants or married filing separate or otherwise.
Although there could be some tax savings in regard to filing jointly, joint tax returns could expose one of the parties to tax liabilities for which they may not otherwise be liable.
All tax returns should be filed timely, including to avoid any civil and/or criminal tax issues.
Going through a divorce is not a basis for not filing income tax returns timely.
In terms of tax liabilities or refunds, prior to or after any unfiled tax returns are filed, those issues can be addressed in a well-drafted settlement agreement pursuant to a judgment of dissolution of marriage.